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Thomas's biological mother and father are both gifted athletes.He was adopted by a couple who had no interest in him being involved in sports.Although Thomas likely inherited athletic ability, it was never expressed in his __________.
Income Statement Accounts
Accounts used to record transactions affecting a company’s income, expenses, and the resulting net income or loss over a period of time.
Balance Sheet Accounts
Categories within the balance sheet that include assets, liabilities, and shareholders' equity, each of which is essential for showcasing the company's financial health.
Natural Business Year
A fiscal year that ends when a business's sales activities are at their lowest point, facilitating easier inventory and activity analysis.
12-month Period
A 12-month period typically refers to a full year, used in financial reporting and analysis to compare performance or changes over the span of a year.
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